GBPUSD:Spotting the New Reverse Inverted Cup & Handle Formation
GBPUSD
GBPUSD : Spotting the New Reverse Inverted Cup & Handle Formation.
1. Price Formation: The price has previously broken out from an inverted Cup &Handle price formation on a daily chart and hit a target. A new reverse inverted Cup & Handle formation has developed and price has broken out of the brim. Bearish sentiment.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA.
3. 200-day Moving Average is below the Price.
5. Relative Strength Index (RSI): The RSI is < than 50.
6. Price Target:1.1400
GBPUSD : Spotting the New Reverse Inverted Cup & Handle Formation.
1. Price Formation: The price has previously broken out from an inverted Cup &Handle price formation on a daily chart and hit a target. A new reverse inverted Cup & Handle formation has developed and price has broken out of the brim. Bearish sentiment.
2. Moving Averages: The 7-day moving average (MA) is below the 21-day MA.
3. 200-day Moving Average is below the Price.
5. Relative Strength Index (RSI): The RSI is < than 50.
6. Price Target:1.1400